Summary
The price of gold reached a record $4,000 per ounce as investors seek a secure place to put their money due to global economic and political uncertainties. This increase is influenced by President Trump's tariffs affecting global trade and a US government shutdown causing economic delays. Gold is considered a safe investment when markets are unstable, and more investors are turning to it during these uncertain times.
Key Facts
- Gold hit a record high of $4,000 per ounce.
- Its price has risen over 25% since April, following President Trump's tariffs.
- The US government shutdown is contributing to the rise in gold prices.
- Gold is often seen as a safe investment during economic uncertainty.
- Both spot gold and gold futures reached $4,000 for the first time.
- The rise in gold is also connected to a weakening US dollar and more retail investors buying gold.
- Gold prices went down in 2022 after interest rate hikes by the US central bank.
- The climb in gold prices is linked to expectations of lower interest rates by the Federal Reserve.
